Bitcoin has strong technical bearish signals, next low could be around $88,000
PANews, Jan. 13 (Bloomberg) -- Bitcoin may now have formed a so-called head-and-shoulders pattern, suggesting that the trend is shifting from bullish to bearish, said piotr matys, senior foreign exchange analyst at Intouch Capital Markets, according to Golden Ten. matys said a break below $91,600, which is seen as a major support level, suggests that “there are strong technical bearish signals for bitcoin. “Alex Kuptsikevich, chief market analyst at Fxpro, added that if bearish sentiment prevails, bitcoin's next low could be around $88,000, with the possibility of a quick pullback from there to around $74,000.
Last year, the debut of a U.S. ETF directly linked to bitcoin and President-elect Donald Trump's outspoken support for the digital asset industry pushed bitcoin to an all-time high. However, that optimism waned in 2025, with some analysts saying traders are waiting for certainty after Trump's Jan. 20 inauguration.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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